Coinbase Powers Spiko’s Mutual Fund with Stablecoin Funding
TLDR: In a landmark first for Europe, investors can now enter and exit a regulated mutual fund (UCITS) near-instantly using stablecoins. By leveraging Coinbase Payments, Spiko has eliminated the traditional multi-day settlement gap, allowing institutional investors to move seamlessly between USDC and T-bills 24/7.
The legacy financial system has long been hampered by settlement friction. Manual bank wires and t+2 settlement cycles mean lost time and increased cost of carry, while reducing liquidity and investor flexibility. The desire for a solution is clear. In a recent survey by EY-Parthenon and Coinbase, 88% of institutional investors cited T+0 securities settlement as a primary area of interest for using stablecoins.
Coinbase is building the infrastructure for the future of finance. This future will have 24/7 markets backed by stablecoins allowing for near-instant and inexpensive settlement. Powered by Coinbase Payments and running on Base, our integration with Spiko is a clear signal that this future is near.
Spiko Case Study: A European First
Our integration with Spiko is a major milestone for European financial markets. Spiko’s EU T-Bills Money Market Fund and the Spiko US T-Bills Money Market Fund will be the first UCITS funds in Europe to accept stablecoin payments, specifically EURC and USDC. UCITS funds are the highest standard of retail fund regulation in Europe, offering rigorous investor protections, and continuous supervisory oversight.
A New First: Ending the Era of Trapped Capital
More broadly we see this as a core example of the future of payments infrastructure for mutual funds and the financial system more broadly.
While many projects have tokenised assets, the entry and exit routes are often bottlenecks. Stablecoin-backed treasury management is offering a liquidity tool that lets investors move in and out of T+0 regulated assets, effectively ending the era of trapped capital.
By leveraging Coinbase Payments, Spiko has not only established a stablecoin payment rail operating within a fully regulated and compliant framework, but also demonstrated a new model for institutional-grade treasury management. This end-to-end stablecoin liquidity cycle is characterised by:
24/7 Subscriptions: Investors can put idle USDC and EURC to work in T-bills at any time, including weekends and holidays.
Faster Redemptions: You can liquidate a T-bill position and have USDC/EURC in your wallet in minutes, providing the same fluidity as cash in a digital wallet.
Wallet Infrastructure: Coinbase provides the secure wallet infrastructure required to manage these flows, meeting the compliance and security standards demanded by regulators.
Streamlined API Integration: The Coinbase Payments API allows customers to automate the flow of capital, facilitating high-value subscriptions and redemptions with institutional-grade reliability.
Base as the Backbone: By settling on Base, our secure and low-cost L2, we ensure these transactions are not only fast but cost-effective, making real-time treasury moves viable for institutions of all sizes.
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About Océane CodjiaHead of EMEA GTM for Payments & Stablecoin InfrastructureOcéane Codjia is Head of EMEA GTM for Payments & Stablecoin Infrastructure at Coinbase, where she leads go-to-market strategy across stablecoin payments, embedded wallets, treasury infrastructure and programmable money movement for banks, fintechs, payment providers and global enterprises.
With close to a decade of experience in crypto and fintech, Océane has built her career at the intersection of digital assets, financial markets and financial infrastructure. Prior to leading payments and stablecoin initiatives, she spent several years within Coinbase Institutional focused on Crypto-as-a-Service partnerships and Sales across EMEA, helping banks, fintechs, and crypto-native companies access trading, custody, staking, financing and onchain infrastructure through Coinbase’s Institutional platform.
